Hightower takes stake in Business Manager to the Wealthy
RIA Hightower has invested in Grant Tani Barash & Altman, a Beverly Hills, Calif.-based business management firm that provides high net worth and ultra-high net worth clients with bill paying, tax preparation and other concierge services. style financial management capabilities.
“The transaction involved cash and equity” and, “under the terms of the transaction, the principals retain strategic and managerial control” of Grant Tani Barash & Altman, a Hightower spokesperson told ThinkAdvisor on Tuesday. Other terms of the agreement were not disclosed.
Founded in 1982, Grant Tani Barash & Altman works with leading individuals, families and companies in the entertainment industry, as well as business owners and entrepreneurs across the United States – both directly and through wealth management firms and the institutions that serve them, Hightower said. The company has approximately 80 employees, who are based primarily in the greater Los Angeles area.
“The strategic partnership will provide Hightower advisors across the United States with direct and streamlined access to sophisticated business management and family office services for their clients” and their clients’ families, aggregator RIA said in announcing the deal on Tuesday.
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Meanwhile, by joining the Hightower community, Grant Tani Barash & Altman “will have access to middle and back office resources and technology to further grow their operations,” Hightower said in a press release.
“The directors have built a business with an impeccable reputation and will continue to manage this business while being able to leverage Hightower’s resources,” Oros said in a statement.